JAPAN GETS SERIOUS ON YEN STRENGTH December 6, 2009 BRIAN DOLANCHIEF CURRENCY STRATEGIST, FOREX.COMAFTER months of confusing rhetoric over currency policy, the new Democratic Party of Japan (DPJ) government led by Yukio Hatoyama appears to have finally got serious over combating yen strength. Japanese investor and corporate sentiment have been pummelled by daily gains in the yen, which have undercut exporters’ profits and caused [...]
Retreating miners offset a strong day for banking sector December 3, 2009 A retreat in mining stocks offset gains in financials from Bank of America’s decision to repay bailout funds, leaving Britain’s top share index down 0.3 per cent at yesterday’s close. The FTSE 100 shed 14.39 points to end at 5,313.00, after gaining 0.3 percent on Wednesday. Banks were the top risers with sentiment helped by [...]
Wall St falls on poor service sector data December 3, 2009 US stocks fell yesterday after data showed the vast American services sector unexpectedly shrank in November and investors worried that Friday’s non-farm payrolls report may show the recovery is sluggish. Stocks sold off going into the close, led by financials, as Bank of America’s massive equity offering spurred concerns that other banks could sell new [...]
Business must help investors to join the dots December 2, 2009 THROUGHOUT the last decade, companies have expanded considerably the depth, breadth and reach of their financial communications to the market, in response to heightened investor and analyst demands and as a result of enhanced financial-reporting requirements. But the financial crisis has magnified market sensitivity to these communications – often described by analysts and investors as [...]
Mining stocks lead weaker banking and power firms December 2, 2009 Britain’s leading share index ended 0.3 per cent higher yesterday as mining firms gained on the back of higher commodity prices, outpacing some weakness in banks and energy stocks. The FTSE 100 closed 15.22 points higher at 5,327.39, adding to Tuesday’s strength when the index recorded its biggest one-day gain in more than four months [...]
Internet shopping data helps Nasdaq December 2, 2009 The Nasdaq rose yesterday as strong online holiday sales boosted shares of retailers, including Amazon.com, and relieved some concerns about the consumer. The Dow edged lower as falling oil prices prompted investors to sell energy shares, while the Standard & Poor’s index finished flat. Worries that bank profits could be hurt by derivatives legislation under [...]
SPEAKER’S CORNER December 1, 2009 KERRY GARCIASTEVENS & BOLTON LLP EARLIER this year, the government stated that it supported “British jobs for British workers”. But that policy is beginning to damage British business and the economy. In 2008, Tier 2 of the Points Based System replaced the work permit scheme. Many companies have registered as sponsors with the UK Border [...]
How to be sure that a breakout is for real December 1, 2009 FOR the past two months, currency traders have been wondering whether euro-dollar will manage to break through the $1.50 level. The pair has made several tests of this psychological resistance level but has so far been unable to consolidate any gains made. Jumping on board a breakout can be a highly successful strategy, but all [...]
FOREX FLASH December 1, 2009 Australia raises cost of borrowingAUSTRALIA’S central bank yesterday hiked interest rates by 25 basis points to 3.75 per cent, citing strong employment growth, improving business confidence, and solid export demand from Asia. This was a third month in a row that the Reserve Bank of Australia (RBA) has chosen to raise rates. The central bank [...]
Dow posts gains on recovery hopes December 1, 2009 THE Dow Jones industrial average climbed to its highest close in 14 months on yesterday as a weak dollar boosted natural resource companies’ shares and economic data reinforced hopes for a sustainable recovery. Sentiment also got a lift as concerns receded about the impact of Dubai’s debt trouble after news that Dubai World planned to [...]